BBDC vs MFIC: Correlation
Measured on weekly returns over the past three years, Barings BDC, Inc. (BBDC) and MidCap Financial Investment Corporation - Closed End Fund (MFIC) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBDC and MFIC?
Across a 3-year window, the weekly returns of BBDC and MFIC correlate at 0.68, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Stretching to 5 years gives 0.69, with an annualized covariance of 275.9 %².
By 3-year correlation, MFIC places #6 of the 12 assets tracked against BBDC. Their recent paths diverged sharply: over the last 12 months BBDC outperformed by 25.5 percentage points (+7.8% for BBDC against -17.7% for MFIC).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BBDC vs MFIC: side by side
| BBDC (Barings BDC, Inc.) | MFIC (MidCap Financial Investment Corporation - Closed End Fund) | |
|---|---|---|
| 1-year return | +7.8% | -17.7% |
| 5-year return | +50.4% | +29.0% |
| Volatility (ann.) | 19.5% | 20.8% |
| Beta vs S&P 500 | 0.60 | 0.57 |
| Max drawdown (3Y) | -24.5% | -27.0% |
| Market cap | $1.0B | $0.8B |
| P/E (trailing) | 11.4 | – |
| Dividend yield | 11.12% | 14.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBDC | MFIC |
|---|---|---|
| 2022 | -18.6% | +0.2% |
| 2023 | +18.5% | +35.5% |
| 2024 | +23.9% | +11.2% |
| 2025 | +8.8% | -4.3% |
| 2026 | +8.6% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBDC and MFIC good diversifiers for each other?
Only partially. A correlation of 0.68 means BBDC and MFIC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BBDC and MFIC?
As of 2026-08-27, the correlation of weekly returns between BBDC and MFIC is 0.68 over 3 years, 0.66 over 1 year and 0.69 over 5 years.
Is MFIC a good diversifier for BBDC?
Only partially. A correlation of 0.68 means BBDC and MFIC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
On the −1 to +1 scale, 0.68 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bbdc-vs-mfic.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbdc-vs-mfic/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBDC correlations · MFIC correlations
